This post was last updated on January 03, 2025, to reflect all updated information and best serve your needs.
Proper planning is crucial to ensure a smooth transition into a fulfilling retirement lifestyle. However, it can be really intimidating when you first get started. You aren’t the first person to retire, so you can draw on the experience of others who’ve walked this path.
This post was last updated on January 02, 2025, to reflect all updated information and best serve your needs.
For some people, the “traditional” idea of retirement just doesn’t fit their lifestyle. The idea of never working again, going to the golf course every day, and just lounging around doesn’t sound very appealing. Luckily, you can craft what retirement will look like for you – even if you don’t really retire.
The safety of your money is important when working with a financial planner for the first time. You worked hard to save for retirement. Protecting your assets may be why you’re hiring a financial planner in the first place.
The type of financial planning professional, compensation models, business structures, and legal protections are all important considerations. Not all firms manage investments the same - some don’t manage investments at all.
As you transition into retirement, one of the most pressing issues to consider is applying for Social Security. Although these monthly payments probably aren’t your entire income source, they can be a vital part of your retirement budget.
If you’re married when applying for Social Security, your spouse may also be entitled to benefits, even if he or she is not at retirement age. However, while this process is relatively straightforward for current married couples, what if you’re on a second marriage?
Warren Buffett is one of the greatest investors and philanthropists of all time. What can we learn from his charitable giving, and how can we apply it to our own giving strategies?
The main point of charitable giving is making the biggest impact. However, when we plan our giving carefully, we can save on taxes and put even more money to good use. There are many considerations, such as when, how much, and which charities and causes to support.
Rising costs and running out of money are a huge worry for many retirees. However, moving forward, you may be eligible for a new “tax freeze” on your Missouri personal property bill. Every little bit helps!
You need to be aware of many different rules and procedures. It’s also important to note that not all counties in Missouri are implementing this new benefit. You’ll need to check your specific county to see what applies to you.
What does it actually look like when you work with a financial planner? This varies a lot between financial planners and clients alike. However, we’re peeling back the curtain to show you how we create your financial plan at NextGen Wealth.
Whether you’re already working with an advisor or a do-it-yourself investor, having a clear system for success is vital. The COLLAB Financial Planning Process™ is our answer. We hope you enjoy this “inside look” at how we construct a plan for your future.
This post was last updated on January 07, 2025, to reflect all updated information and best serve your needs.
Although defined benefit plans (pensions) are less common today, many people will still rely on them for retirement. There are some very specific rules governing how these plans are calculated for payout either over the course of retirement or in a lump sum.
This post was last updated on January 03, 2025, to reflect all updated information and best serve your needs.
Saving money for retirement is critical, but when it comes to the types of accounts you have, it can start to get a little confusing.
This post was last updated on January 02, 2025, to reflect all updated information and best serve your needs.
Retirees who work with a financial advisor are happier and more confident – in their finances and in life. Many of us have concerns about money. So, it makes sense that getting expert help would increase happiness by reducing financial stress.
The right financial planner does so much more than just help you with a 401k rollover. A true expert takes the time to get to know you and craft a detailed, thought-out plan around your hopes and dreams. The process should center around you, not your money.
Choosing between a lump sum or annuity payout is one of the largest decisions an Evergy retiree will make. Evergy has many pension payout options, but which one is best for you? A lump sum payout is an option for all the different pension programs under the Evergy umbrella.
It’s important to know exactly what options you have and what you can or can’t control regarding a lump sum payout. Doing your research and really thinking through your options is absolutely necessary.
This post was last updated on 31 December, 2024, to reflect all updated information and best serve your needs.
Planning for your retirement is the key to fully enjoying the fruits of your labor. Whether you have an IRA (individual retirement account), a 401(k) or other retirement account, you'll want to get the most out of it by maximizing your contributions. Understanding the contribution limits put in place by the IRS will help you maximize your savings.
This post was last updated on January 08, 2024, to reflect all updated information and best serve your needs.
Many SECURE Act 2.0 changes were set to go into effect later, but 2023 was an important year when many changes took effect. We’ve made a list of these changes so you can more easily track them.
This post was last updated on September 30, 2023, to reflect all updated information and best serve your needs.
How do you measure your personal financial health? If you were running a business, you’d pay close attention to its financial health, right? Elements like cash flow, debts, and total assets would be part of your normal routine.
Many investors consider diverse investment portfolios desirable because they reduce the overall risk inherent to investing. One of the primary ways to diversify your portfolio is to invest in different asset classes. Before you can do that, though, you need to know a little more about what they are.
While even the most diverse investment portfolios aren’t immune to risk entirely, risk reduction of any amount can help provide you with peace of mind, particularly when you’re investing as a way to support yourself through retirement.
If you’re like 69% of Americans, you may have less than $1000 saved. Putting money away is a struggle for many individuals, but part of the problem may be how they’re doing it.
One possible way to make saving easier is to utilize multiple accounts. Today, we’re going to look at the various reasons you should be saving and the types of accounts you can use to reach your goal.
Typically, if you want to become an investor, you need sufficient capital to make any headway. These days, however, it’s never been easier to make your money work for you, thanks to various investing apps and opportunities.
If you’re short on funds, you might think that investing is out of reach. You’d be wrong. Thanks to the growing trend of micro-investing, anyone with a bank account can get started.
If the thought of negotiating your salary makes you break out in a sweat, you’re not alone. According to a survey by compensation software company PayScale, only 43 percent of respondents asked for a raise in their current field.
Salary negotiations can be scary. Even the most seasoned professional can blanch at the idea of marching in and demanding more money from their boss. However, there will come a time when your current compensation does not reflect the value of your work.
This post was last updated on January 15, 2021, to reflect all updated information and best serve your needs.
Congratulations! You’ve worked for decades to prepare for retirement and now you’re there, or almost there, ready to start what can be the most enjoyable phase of your life. Very likely, you’ve got plans to travel, see family and friends and maybe even revisit hobbies you’ve neglected for decades.
This post was last updated on January 15, 2021, to reflect all updated information and best serve your needs.
Are you looking forward to the day you retire? Many dream of retirement, counting down the days when they can leave the cubicle life behind. But, before you turn in your work badge, make sure your finances are in order first.
